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EUROSTOXX50 TECHS: (Z4) Corrective Cycle Extends

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5106.00 High Sep 30 and a bull trigger
  • RES 3: 5084.00 High Oct 15     
  • RES 2: 4974.00/5014.00 High Dec 18 / 9 and key resistance 
  • RES 1: 4912.93 20-day EMA         
  • PRICE: 4845.00 @ 06:26 GMT Dec 20  
  • SUP 1: 4827.00 Intraday low       
  • SUP 2: 4819.33 61.8% retracement of the Nov 19 - Dec 9 bull cycle      
  • SUP 3: 4773.44 76.4% retracement of the Nov 19 - Dec 9 bull cycle 
  • SUP 4: 4745.00 Low Nov 29  

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the latest pullback highlights a corrective cycle and the contract is again trading lower, today. Price has traded through the 50-day EMA, at 4897.73. A continuation lower would open 4819.33, a Fibonacci retracement. On the upside, key short-term resistance has been defined at 5014.00, the Dec 9 high. A break of this hurdle would confirm a resumption of the recent uptrend.

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  • RES 4: 5106.00 High Sep 30 and a bull trigger
  • RES 3: 5084.00 High Oct 15     
  • RES 2: 4974.00/5014.00 High Dec 18 / 9 and key resistance 
  • RES 1: 4912.93 20-day EMA         
  • PRICE: 4845.00 @ 06:26 GMT Dec 20  
  • SUP 1: 4827.00 Intraday low       
  • SUP 2: 4819.33 61.8% retracement of the Nov 19 - Dec 9 bull cycle      
  • SUP 3: 4773.44 76.4% retracement of the Nov 19 - Dec 9 bull cycle 
  • SUP 4: 4745.00 Low Nov 29  

A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the latest pullback highlights a corrective cycle and the contract is again trading lower, today. Price has traded through the 50-day EMA, at 4897.73. A continuation lower would open 4819.33, a Fibonacci retracement. On the upside, key short-term resistance has been defined at 5014.00, the Dec 9 high. A break of this hurdle would confirm a resumption of the recent uptrend.